Seacurus Daily: Top Ten Maritime News Stories 20/03/2018




Seacurus Daily: Top Ten Maritime News Stories 20/03/2018


1. Box Ship Allision Filmed
A video taken by a port worker has gone viral on social media, showing the remarkable moment when 8,000 teu Hapag-Lloyd boxship "Tolten" scraped the side of 6,350 teu "Hamburg Bay" at South Asia Pakistan Terminal (SAPT) in Karachi. Local
reports say that 50-60 containers went into the water from the incident, with Pakistan Today claiming their sources at Karachi Port Trust have laid the blame on the port’s pilots. 
There are no reports of pollution or injuries
from the incident. 
A second video shows the scope of the cleanup operations required to retrieve the containers.
https://goo.gl/7TbDqc
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2. Maersk Suffers Another Hack
Maersk has been hit by another cyber attack. Investigators are looking into how hackers managed to get into towage subsidiary Svitzer Australia’s email system for nearly 10 months before the hack was finally discovered on March 1 this year. Svitzer
officials have stated that the attack has been contained and that it was only limited to the company’s Australian operations, which runs on completely separate systems to the rest of the Maersk Group.
https://goo.gl/zdPvfb
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3. Smart Shipping Buy Out
Technology group Wärtsilä is buying navigation solutions specialist Transas for EUR210m ($258m). The move will speed Wärtsilä along its path towards its so-called Smart Marine Ecosystem vision, the Finnish company said. Transas’
current annual net sales are in the region of EUR140m with 1,000 employees spread across 22 offices. Transas’ large base of software engineers will play a key role in assisting Wärtsilä with the development of smart products and a digital platform, the Scandinavian
company maintained.
https://goo.gl/vj122t
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4. Change the Only Constant
With one of the constants of shipping being change, the success story that is Greek shipping is its ability to adapt to change. This message was delivered many times over in Athens last week, a week packed with events discussing and debating the latest
developments in shipping. The Norwegian ambassador to Greece, John Eugene Gjelstad and UK ambassador Kate Smith spoke of change. Gjelstad focused on technology in shipping, an area that Norwegians have taken important bold steps,
while Smith stressed Brexit will see changes but they should not impact shipping and the strong ties of Greek shipping with the City of London.
https://goo.gl/cGBm1r
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5. Cutting Port Calls
Maersk Line is relaunching its Asia-Europe Network with an overall reduction of 17 port calls on its North European and Mediterranean strings and the addition of one vessel in a move that is designed to improve schedule reliability. The first Westbound
sailings on the new schedule are set to start in early May. “As part of the new network, reliability will be enhanced by reducing the amount of duplicate port calls and allocating more buffer time around hub ports,” Maersk said
in a press release.
https://goo.gl/EqUMFb
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6. Singapore on the Rise
PSA International Pte Ltd (PSA) handled 74.24 million Twenty-foot Equivalent Units (TEUs) for the year ended 31 December 2017, representing an increase of 9.8% from the previous year. PSA’s flagship Singapore Terminals contributed
33.35 million TEUs, increasing 9.0% over 2016. PSA terminals outside Singapore delivered a total throughput of 40.89 million TEUs, increasing 10.4% over 2016. 
PSA Group revenue rose 7.8% and profit from operations grew
5.0% compared to previous year. Overall net profit for the year was 5.1% higher at $1.23 billion.
https://goo.gl/qLrrsd
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7. Rescue Ship Seized
Italian authorities seized a charity’s ship on suspicion it had helped illegal immigration by picking up migrants in the Mediterranean instead of letting Libya’s coastguard take them back to North Africa, the aid group said. The
Spanish charity Proactiva Open Arms picked up 218 migrants who were in unsafe rubber boats in international waters off Libya’s coast on Thursday, then took them to Sicily, the Italian coastguard said.
https://goo.gl/KfLkpB
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8. Shipping and Bitcoin
Hong Kong-based blockchain solution provider 300cubits has completed the first trial shipment in its smart contract deployed on the Ethereum blockchain, the company said. Malaysia’s liner company West Port and, LPR, a Brazilian
textile importer participated in the trial. 
300cubits has introduced TEU tokens, described as the ” bitcoin of the shipping industry”, as a tool for solving the no-show bookings. The tool is a blockchain-based shipping
deposit aimed at enforcing contracts.
https://goo.gl/yVaQZy
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9. CMA CGM Profits Boost
French shipping giant CMA CGM returned to profitability in 2017 as its consolidated net income group share for the year amounted to USD 701 million, a sharp increase compared the loss of USD 452 million reported in 2016. In
2017, CMA CGM carried nearly 19 million containers, a strong increase of 21.1% compared to 2016. This increase is driven by the contributions of all the shipping lines operated by the group in addition to APL’s full-year contribution. 
Thanks
to the increase in freight rates, confirmed throughout 2017, the average revenue per TEU rose by +9% compared to 2016.
https://goo.gl/kqqcJu
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10. P&I Club Changes Tack
West of England P&I Club has withdrawn from the AM Best interactive rating process following a review of the market practice and the costs and benefits of maintaining two interactive ratings. The Club’s board said that Members’ interests would be best
served by having only one rating in the future. AM Best’s final rating was to affirm the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “A-” for the Club. The outlook of the ratings is stable. All
future ratings for West of England will now be provided solely by Standard & Poor’s, which currently rates the Club A- (strong) with a stable outlook.
https://goo.gl/M5Qr8z
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Daily news feed from Seacurus Ltd – providers of MLC crew insurance solutions  www.seacurus.com
S. Jones
Seacurus Ltd
Seacurus Ltd.,
Barbican Group,  
33 Gracechurch Street,
London EC3V 0BT,
UK
www.seacurus.com
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